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Robert F.X. Sillerman And EPE Announce Partnership

Here is a press release from EPE. December 16, 2004 -- Robert F.X. Sillerman and his new media and entertainment company, which will be named CKX, Inc., have entered into a definitive agreement to acquire a majority interest in the assets comprising the estate of Elvis Presley.
The new partnership will conduct all business activities concerning EPE, Graceland and tour operations, however the transaction was structured so that the title to Graceland and its 13.6-acre grounds in Memphis, TN, and most of Elvis’s personal effects remain with Lisa Marie Presley.
The new partnership includes all trademark rights to the name, likeness and image of Elvis Presley and all EPE-owned intellectual property, including its collection of photographs, archival documents and footage, and EPE’s successful music publishing catalog, as well as the Graceland visitor center complex and Heartbreak Hotel across the street from the mansion and all other EPE real estate investments.
In a related transaction, Mr. Sillerman announced that he expects, through an affiliated entity, to acquire approximately 94 percent of the common equity of Sports Entertainment Enterprises, Inc. [OTC BB:SPEA.OB], an inactive publicly traded company, through which the business of CKX will be conducted. Please see Mr. Sillerman’s and SPEA’s releases for further information on this transaction.
“For the past few years I’ve been looking for someone to join forces with to expand the many facets of EPE, to take it to new levels internationally, and to make it an even greater force in the entertainment industry,” said Lisa Marie Presley, singer/songwriter and sole heir to the Elvis Presley Estate. “I feel confidant that Bob Sillerman and his team are the right people to do this with. My greatest responsibility to my father is to preserve and protect his legacy, and this is an exciting new structure that opens up an incredible array of opportunities with a major infusion of new investment capital to do just that,” continued Presley. “It’s the ideal partnership in that I retain Graceland and my father’s personal effects, yet joining forces with Bob Sillerman will give us the opportunity to grow even further the intellectual and entertainment properties.”
Commenting on the transaction, Mr. Sillerman said, “I am extremely excited about our new venture, which we believe will bring unique concepts to different aspects of the utilization of entertainment content and will challenge the current models of distribution and consumption of content. I am fully committed to the success of CKX and there is no better way to launch our new company than by assuming the opportunity and responsibility, together with the Presley family and the current management of Elvis Presley Enterprises, of continuing and expanding the heritage of Elvis Presley. I believe Elvis to be the single most significant icon in American pop culture.”
No staffing or personnel changes are anticipated within the EPE organization. Priscilla Presley remains as an executive consultant, Jack Soden remains as CEO and Gary Hovey remains Executive Vice President and head of the Los Angeles office. All of EPE’s management team and staff will remain in place and Graceland tour operations will continue with business as usual.
EPE was created in 1980 by Priscilla Presley on behalf of the Elvis Presley estate. Its business extends far beyond the Graceland operation. It includes worldwide licensing of Elvis-related products and ventures, the development of Elvis-related music, film, video, television and stage productions, the ongoing development of EPE’s Internet presence, the management of significant music publishing assets, the Heartbreak Hotel in Memphis and more.
Mr. Sillerman was the founder, a major shareholder and served as Executive Chairman of SFX Entertainment from its inception in 1997 until its sale to Clear Channel Communications in August 2000. SFX Entertainment was the largest presenter, promoter and producer of live events in the world. Prior to that, Mr. Sillerman was a founder, major shareholder and served as Executive Chairman of SFX Broadcasting, a major owner and operator of radio stations, from its inception in 1992 through its sale in 1998 to an affiliate of buyout firm Hicks, Muse, Tate & Furst.
Note from EPE - Questions/Comments?
Knowing of what great interest this news is to Elvis fans worldwide, they anticipate many e-mail messages with inquiries and comments. EPE will not be able to answer all those messages individually. However, they will be posting more information here in the newssection on their site as it becomes available to share with you and they will be constructing a special Frequently Asked Questions section to respond to the collected inquiries and comments. Please send any messages to our general company e-mail address graceland@elvis.com. Your message will be acknowledged with a form response and then added to the file EPE will use as a reference for constructing the FAQ and the continuing news postings about this great new development for Elvis Presley Enterprises, Inc. and the world of Elvis at large. Thank you very much.
A Personal Note from Lisa Marie Presley:
Hello and Happy Holidays!
I would like to further clarify and ease any weary minds (If there are any about the recent business announcement.
First off, companies merge all the time and while it is true that EPE has been successfully holding its own for 25 years, myself, my mother and the board came to realize that in order to take the business to a whole different level, merging with another provenly successful team would accomplish that.
The search for the right person has been going on for years, none of us at EPE would have done this if it weren't in the best interest of my father and his legacy. No stone was left unturned in making sure that business will be run as it historically has been, with integrity, always preserving and protecting my father.
The executives, my mother and myself remain very active in the operations of Graceland and its entities. What is and has been done will remain, and merging with Bob Sillerman and his team simply gives us new opportunities that we didn't have before.
Business-wise any company can always grow, what is predominately sacred and can never be touched is Graceland itself and its contents and artifacts and that is and remains mine and my family's forever.
Frankly, we are all united and excited about this and I send my best wishes to you and yours for the holidays.
Much love,
LMP
From the Billboard Radio Monitor:
The move was funded through a complicated transaction in which Sillerman's RFX acquired a 94% controlling interest in Sports Entertainment Enterprises for $3.43 million.
In exchange for total consideration of approximately $100 million, Lisa Marie Presley will contribute 85% of the outstanding equity interests of the assets comprising her father's estate. She will retain a 15% interest in the two Presley entities, which will operate as 85%-controlled subsidiaries of Sillerman's newly formed media and entertainment company, CKX, Inc.
The Elvis businesses had total revenue of $44.9 million for 2003 and $37.9 million for the nine months ended September 30, 2004. Net operating income before depreciation and amortization for those periods was $12 million and $9.4 million, respectively.
The deal is structured so the title to Graceland and most of Presley's personal effects remain with Lisa Marie Presley.
From Business Wire:
As part of the transaction, RFX will contribute $3.43 million to SPEA in exchange for 34,320,124 newly issued shares of SPEA common stock. In addition to the shares received from the company, RFX will receive warrants to purchase 8,689,599 shares of the common stock at $1.00 per share, warrants to purchase 8,689,599 shares of common stock at $1.50 per share, and warrants to purchase 8,689,599 shares of common s

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Is this a surprise that LMP would do this to her dad and ALL Elvis fans? Not to me. She has shown in the past not to really care about EP fans by not mingling or saying hello to anyone during Elvis Weeks every August. 100 Million? Whoopee! She could gross that in 2.5 years. And don't forget all the money we, her DADS fans, spent for her debut CD. Maybe Red & Sonny need to take her behind Graceland for a good old fashion talking to. She has just slapped Elvis fans and her dad in the face. Thankyou, thank you verylittle!

Well Gribz, you are absolutely right, but I still stand by what I said (contradictory I know). Everyone seems to see that this whole chirade (because that's exactly what it is) bodes really bad for Elvis but is trying to be positive and is trying to scrape some good points from the issue. That's fine, and can certainly be better than being miserable about the whole thing (like me!); the problem is if you have to look that hard to find good points, then there probably aren't any in the first place. The language Mr Sillerman uses to describe the deal does nothing to reassure me: "utilization of entertainment content" and "challenge the current models of distribution and consumption of content" What!? If this is his mission statement then I don't feel any better for it. As the man himself once said- "I'm not even sure they were speaking English". I bet Jack Soden was livid when his oft dreamt about "Major investing partner" turned out to virtually own the clothes he was standing in. This deal virtually amounts to a takeover bid, with Mr Sillerman having a controlling interest - he can hire and fire at will! They can dress it up all they like, but the bottom line is Lisa, and god knows who else, have sold Elvis down the swanny to whoever had the cash. I digress, I don't disagree with you as such Gribz, but it will take more than a few positive thinkers to make me feel happy about this deal. I sincerely hope I am proved wrong.

I disagree Viva. This could be a good thing depending on Mr Sillermans mission statement for the Elvis World. Jack Soden has said several time over the last 5 years that he was looking for major investing partners, but I didn't think EPE was going to relinquish a majority of control. We, as fans have to make our voices heard. I know they will hear mine loud and clear when the integrity of Elvis name is at stake. So lets make an effort, collectively in force, because Elvis is the most important cultural figure of the last 100 years among many other positive attributes in which a degraded entertainment culture today so desperately need...Don't you think???

My "gut feeling" tells me this is bad. The whole credibility is weakened and that special "family legacy" status will be gone. I mean, -does anyone believe that Yoko Ono would do the same thing with John Lennon?

My guess is drawings taken from the profits. In other words paying people too much. Who these peole are, well start at the very top and finish somewhere near the top of EPE. Bad investments including the operation of Elvis Presley's Memphis bar on Beale Street would have soaked money up like a sponge. I am sure other people might speculate on other factors.

Back in September I stood on Beale Street staring at the now vacant "Elvis Presley's Memphis" restaurant. It saddened me to see such a great place shut down forever due to mis-management; especially when some trashy establishments on the same block are thriving. I wondered back then about the management of EPE? Whether or not Lisa should have sold most of interest in the estate will be known to all of us in due time. Indeed, its a gamble. However, I hold out hope that Mr. Sillerman will make the Elvis empire stronger, and I'm hoping as it appears many are, that the handcuffs will be removed from FTD. Maybe someone like Mr. Sillerman has the clout needed to move Turner to doing the ON TOUR project? Certainly the 1977 material could see the light of day. We shall see. In my opinion, I would rather Lisa hand over the business than run it into the ground. Maybe hiring a management company instead of selling the estate would have been a better move? We will see in time. Merry Christmas to ElvisNews and to all the fans world wide. All the best for 2005!

I am so disgusted by this, I knew it would happen some day, say 20-25 years down the line, but now? Why Lisa? Why? And why the hell was EPE 25 Million US Dollars in debt? Can someone figure that one out?

It's over and done with. There's nothing I can do about it whether I agree with it or not. I'm not going to spend much time worrying about it because I learned very early in life that it's a waste of time to spend time worrying about things you can't change/control. Do I have misgivings? Yes. But..

You tell'em brothers and sisters! Please read my take on this under the raquetball remodelling comments. Punched the wrong key. I don't mean to blast Lisa, but did you see her on Howard Sterns TV show? Really a sad thing. "Sitting by the pool, getting drunk all day." Maybe if she would sink herself into charitable causes all day, she'd realize why WE all do this. She won't be her father, everybody knows that. Nobody is expecting her to be. I'm not. But she's in a very unique position. To take that wealth and really make a difference. Elvis would want it that way. Maybe he gave away too much? But with the right guidance, Lisa could be a force for God's good all over. He wanted to do it, but couldn't. Time just ran out for him. Take the ball Lisa and run WITH it. Don't run AWAY with it. Remember, "The only thing better than making money,is giving it away. "Aw,what do I know anyway? Merry Christmas, and God bless all of you.

I agree with those who are hoping for the best, but I am also wondering why 85%? That seems like almost all except the Graves :}. Well as far as Lisa goes she did have to do something to recoup the money she lost on her CD :}. We also have to realize that with all the love we have for Elvis we have to believe in what he would think, and that would be that his "little girl" could do no wrong in his eyes, so be happy for Elvis (even if we have our doubts).

Well, I fear that this is the beginning of the end. I think Lisa is going to have a big shock one day when she realises Graceland will not be hers anymore. I can see the court case now - Mr Sillerman convincing the jury why he should own Graceland as he owns most of the stock and has done all the work in turning EPE around while all she has is a bit of paper with her name on it. Ok, it might sound cynical, but don't be surprised if it happens.I really think that we will see Elvis product taking a turn for the worst after this. Business people don't give a s**t about Elvis, artistic merit or what Elvis actually would have wanted. At least when it was EPE, there was an element of family loyalty involved even though the purpose was still to make money. Now I fear that element has gone, and once your ONLY concern is the buck, with an artist like Elvis we will see a return to the Col Parker system- exploitation to the point of Killing the Goose that lays the golden egg.And one more point; Elvis left his estate to Lisa, and only Lisa. He did not want anyone else involved with Graceland as he knew he'd been screwed over by everyone connected with him. Ultimately, it's Elvis I feel sorry for- this is not what he would have wanted.This will be a disaster for Elvis and his impact on todays society - mark my words.

Well, it certainly is business and I hope it's good business. I just think that it seems a little cold on Lisa's part. But I'm hoping for a good outcome. I am hoping for some DVD releases! Mr. Sillerman - we true fans want the '77 concerts released and "ON TOUR", "THIS IS ELVIS" and "LOST PERFORMANCES". We true loving fans want it all! And more that in vaults locked away too.

Does anybody know is Mr Sillerman is an Elvis fan ? The presley women my not have done us fans wrong but they have done Elvis wrong and how can it be a partnership when lisa only has 15 percent.Anybody know how much Graceland is worth if the king is only worth 51 million pound his house cant be worth alot.

I share my dreams with the comment of Ton Bruins. When i read this news today on Dutch teletext, it was the very first thing that crossed my mind. Because the June 1977 shows were in the hands of EPE only, there may be a good chance all this will be released in a while now. I hope it will be only a matter of time and nothing else but that.Note to Mr. Sillerman...Put some pressure on for the fans, and make sure it will be released. Sounds like a good partnership opener to me.

Everybody needs to settle down. EPE will now be able to generate success all over the world on a grander scale. This is good. Secondly, Lisa-Marie still holds a firm grasp over the house, it's artifacts and most important... the name. Businesses do mergers like this all the time. EPE as a business is no different. More money generated overseas means more authentic, refined Elvis product. You will soon get all that you've been asking for in terms of DVD's, Live Performances, and Paraphenelia. Time will truely tell... no need to get upset over the first step. The Presley women have not did us wrong yet.

Well! Well! Well! My opinion is maybe...that it is the beginning of the end! This Mr Sillerman is surely not a silly man and got something in mind, this I am sure! Anybody who wants to invest money nowadays does it in order to make profit and sometimes with the intention of maybe fooling others. Elvis was not himself a real good businessman. It was outside of his own field and we all know what happened with trusting Mr Parker... Just hope that future will prove me wrong!

Yes, darn shame that a bunch of Elvis fans couldn't pool their money together and buy Elvis from the family. I think some business smart Elvis fans could preserve his memory much better than greedy money hungry rich people.

Hmmmm, this news saddens me also. I'm 38 years old, have been a Elvis fan since I was 4 in 1970. I've always wished I could have been Elvis' daughter, this makes me wish it all the more! Graceland wasn't making money in 1977 because it was a home, sometimes I wish it still was! I hope this does bring good and not bad, time will tell. I think I may take all my Lisa stuff and put it on ebay and sell her out of my life, Elvis is all that matters to me. As long as I can have his music and his values as a human being in my life, I can live with whatever happens. It just seems so sad that money is more important than family, in my opinion, this seems to be the case here.

Well we have gone full circleback to1977. She now she owns just the house and his belongings. I dont think they are as stupid as we are making out. The main money maker is still family owned and she is still getting a cut from the rest. Just another way of making even more money for themselves, ps who now owns the planes and cars ect.

Man, I wish I was rich, then I would have bought what Lisa sold, and handled it with love and care - as any other Elvis fan would. And you all would have gotten everything taped for TTWII, On Tour and Elvis In Concert - as well as real deluxe dvd's of Aloha and 68 (documentaries, etc.) Man I hope Sillerman is an Elvis fan and really in it for the long run - if not, then hey, I can get myself a jumpsuit and other stuff

How can Lisa sell Elvis for a pathetic sum of 51 million pounds its a total insult. I am glad shes not my daughter. she should be ashamed of her shelf. I would never do that to anyone i loved. she's getting more like her mum everyday unfortunately

I've never seen one on these celebrity estate sales not be a horrible travesty. Here is Nashville, we are reeling at the mess created when Jim Reeves' widow sold his estate to a shady carnival operator. Most of Reeves' personal effects ended up on Ebay - even the burned wallet that was in his pocket when he died in that horrific plane crash. I have worked for SFX and I can assure you that Sillerman is not in this for the long haul. Want an Elvis jumpsuit? Wait a few years, check Ebay, and your dream may come true.

This is the biggest travesty since M. Jackson bought the Beatles catalog out from under Paul McCartney. The Colonels stupidity in '73 is nothing to this.We all know that Lisa Marie has never really cared anything about her father or about his estate except when it could do her some good. She probably realized after her attempt at a recording career that Elvis' name would only take her so far and she didn't have what it takes to get the rest of the way. So now this is the easiest way she has of getting her big payday out of Elvis. The big question is how EPE could be anything close to $25 million in debt with the revenue that it has had over the past decade. $12 million clear income (actually closer to 15-16 mil. after depreciation and amorization) last year alone! Correct me if I'm wrong, but I'm not aware of any major improvements being done at Graceland until the past year or two. So, who is dipping into the till? I personally hope she chokes on that $100 million and the stock dividens that will come later.

Eddie - you are absolutely right. According to the BBC News site, Lisa Marie will recieve £51 million. This is broken down into her receiving a cash settlement of over £27 million, a share option worth over £10 million and as Eddie states, the existing debt of over £12 million will be wiped out. I think this is very cheap also, I just can't understand it. Why is Graceland in debt for so much money (£12 million) ? Why didn't Lisa Marie & Priscilla dip into their own personal fortunes to bail the business out ? Where has all the money gone ? Christ, this Robert Sillerman must think all his Christmas's have come at once, for him that must be the deal of the century at what a snip of the price. Dreadful.

This announcement just breaks my heart. I just don't understand selling out one's daddy, no matter what ill feelings might be there. My daddy has done some pretty stinky things in my life time, but I could never sell him out, I just couldn't. The thought of Graceland possibly ever being sold...I just can't even think of that, it is too upsetting. What about Elvis' grandchildren...will they have nothing left of their grandfather? They won't even have rights to his name :(

As far as i can see, both parts are in "just for the money". In a way, that's not a stupid way to make bussiness. But the point is that Presley is not Snoopy, Donald duck, or Coca Cola, althouh is almost biger than all of them together. And taht is is wath im afraid. I'm not afraid of the control of Preslet's intellectual property. That is so huge, that speaks for it self. That is's Art, and Art will always be Art. Wath i'm really very afraid is the selling of the name, likeness and image of Elvis Presley. The family no longer controls Presley, name, or image. And that can become a nightmare. If's money is needed we'll see a Fat Presley selling Donouts, toilet paper, dog food or a Young Elvis selling condoms! As far as i'm concernd this is the most terrible part of the bussiness, and will distroy Presley as and creator, as an Art Form, that is wath He Is. Elvis Presley a creator a genious, like Da Vinci, Verdi, Picasso or Warol. And you are not supoused to touch Art. TCB for everyone.

First of all: This is not a "partnership". This is an outright sale. And yes, the house stays in the ownership Lisa only because of the tomb. Otherwise she would have sold not only the intellectual property and originial source material - but Elvis himself. Consider that !Second: Has anyone considered that this move could originate - not from the obviously not too smart owner - but from the management that has an agenda (aspirations) of its own. Soon we'll see. If the management stays in place as announced then it probably is orchestrating the move... Third: Elvis is not just another star but a historic person in american and western culture. It is sad that his legacy is being torn up and divided among many commercial interest (Lisa, Siller, Sony, movie companies, private collectors etc.). In an ideal situation the artifacts and intellectual rights would have remainded in a trust/company that would market Elvis and preserve his image, role in history and the artifacts (not least master recordings) for the future.Does anyone really think that fully commercial businesses will take that responsibility ? Or do you think the mighty dollar will rule ? This could indeed prove to be the worst dicision since 1973.

Elvisfreak - I feel sorry for you guys who work so hard for EPE for what I guess is a ordinary wage, alll that for Lisa Marie to keep banking the cheques every week. You say that EPE couldnt afford financially, which if true, is staggering considering the money Elvis makes every single year. Where does all the money go then ? Oh thats right, it goes to Lisa Marie !!All Lisa Marie had to do like any decent family member in her position, is dip into her own bank account, and bail the business out, after all, its not her own money, its her dads at the end of the day. Best thing that can happen now, is Lisa Marie relinquish all her rights to the estate and have nothing to do with the business anymore. She has contributed zero to the Elvis empire and is an absolute disgrace.

Hi Folks! I am a tour operations associate at Graceland and a big Elvis fan. I was as upset as you all were today when I got the news about the hostile "take over". I talked with marketing in EPE this afternoon and was reassured that this may be the best thing for Elvis that Lisa has ever done. The whole point to the merger was that EPE didnt have the money to expand beyond Memphis the way they wanted to and the way foreign fans requested they do. So now, they have brought in someone who can, financially, take Elvis to a much higher level. Although I am very disappointed Lisa would sell 85% like that - I do feel this may be the best thing we ever see out of EPE. All we can do now is wait and see how it materializes. The new business takes control in two months - this evening Jack Soden made a statment to all of us at Graceland and also mentioned that people wont lose jobs over this (business as usual) but that chnages for Elvis would occur and it would be great in the coming years.

ps - Raquetball has been competly remodeled, the suits are in indivdual cases, just as we have been asking. Soon Trophy will also be redone!

I am sure Graceland would have went had it not been for the gravesites there, but I am also sure they are not safe. Lisa probably knew that the fans would have really revolted if Graceland were sold. but when the monies all gone there will be another sale and this time Lisa will be lost forever. Our beloved Elvis was sold out in life by everyone he loved the best and now he is sold out again in death. I just hope Elvis has a finer Graceland in heaven that his loved ones cannot sell for the love of money. His mother was the only person that didn't try to sell him out. Elvis had one giant tender heart and it was hurt so many times in his life by the very ones he loved the most. I for one just hope he's not crying teardrops in heaven. Just remember what goes around comes around and I hope Lisa loses everyting she gains from the sellout of her daddy. When I read that article where she said she hates being Elvis daughter because it hurts her career I knew what caliber cloth she came from. Sad,Sad day!

I doubt, that there will be anything done to endanger the income of Scientology. So lean back, enjoy Elvis and forget about the business side, otherwise you will only worry to much. It's not Elvis, who acts there. He's in our heart, no matter what will be! :-)

I totally agree with Jim Semple, Dismas and Aaronman.They've said it all. This Presley girl is not up to her father, that's for sure. I really think she's got a cracked brain (and very little pride). Never mind, of course. We're still going to enjoy Elvis' music, no matter what. Elvis' artistry is beyond crass commercial exploitation. But this sort of news leaves you with a bitter taste in the back of your mouth.

For some reason this news has me thinking back to 1973 -- when the Colonel negotiated the sale of Elvis's master recordings to RCA for a quick influx of ready cash. That proved to be one of the all-time worst deals in recording industry history, according to many entertainment industry insiders. Wouldn't you think the Presley Estate would've learned a lesson from that boneheaded Elvis-and-the-Colonel move? Guess not. But, hey, while skeptical, I'm still hoping for the best -- the best for Elvis's memory and legacy, that is.

Back in Elvis's days, even he didn't have control. There was the colonel, RCA, Boxcar, Hilton, the list goes on. Maybe knowing how tuff this industry, that basically killed her dad, is, had something to do about it.

The key point though is quite simple, Lisa Marie is selling 85% away to a Third Party when her dad spent half of his life (and it basically killed him in the end) building up an empire beginning from 1954. Yes, Graceland wasn't the financial success back in 77 when he died, compared to now, but the bottom line is, its all down to the achievements of Elvis that people all over the world come to pay homage and also buy everything in the shops worldwide etc. Ok, so this company may expand Elvis' legacy but hey come on, Lisa Marie and Graceland were making millions, at the very best, from a moral point of view she should have kept control of his empire. Elvis would be turning in his grave right now, knowing that everything he went through in his life, his daughter gave the vast majority of it away, just for another pay day. Personally, if these statements are correct from EPE etc I find it an absolute disgraceful act of betrayal.

I think you should all come down. This could expand Elvis's legacy. It's common today that companies buy and sell interests. It isn't different from Sony buying BMG. After all nothing runs without money, and we don't know if a little company can keep The Elvis industry running say 10 or 15 years from now.

I Hope she knows what shes doing.Its certainly a scary thought.Why???What does Priscila think?How could they?It might be for their good or it might be for the worst.I guess we will find out.I hope they dont sell Graceland...How disrespectful.

Poor old Lisa Marie, down to probably her last $300 million now after the latest cheque ! If Eddie White is right and he probably is, venture capitlists are only in it for a quick kill. 3 - 5 years max and then they sell out and move onto another project. Like any business, there are only it to make money, nothing else.

Here are some more details about the "Take Over" Robert F.X. Sillerman, has now acquired an 85% stake in Elvis Presley Enterprises. The deal includes the operation of Graceland and the surrounding properties in Memphis, as well as revenue derived from Elvis' music, films and television specials. In exchange for total consideration of approximately $100 million, Lisa Marie Presley will contribute 85% of the outstanding equity interests of the assets comprising her father's estate. This sure does not sound like a partnership but a real take over by Sillerman. Will things change for the better? Time will tell I guess.

This is a case of EPE selling the silverware and then having it back on loan. After reading the above it is obvious to me that Mr.Sillerman is nothing more than a venture capitalist buying up assets and then later offloading at a higher price. I do not believe that the arrangement will benefit anyone other than Mr. Sillerman. I don't believe that it is in the best intersests of Elvis's fan base. As Jim Semple says what next Graceland. I am completely shocked by this news. How about anybody else?

Early days but it smacks of Lisa Marie doing what she has always done and looking after Number 1, by receiving a massive cheque and basically outsourcing the majority of Elvis assets to a Third Party. Why do we need this move ? Elvis was again the highest ''dead celebrity'' earner again this year. Additional funds required isnt the issue here, so its a strange decision.What next - Graceland for Sale ?!? Watch this space, funnier things have happened !! I'm slightly biased because as you can tell, I can't stand Lisa Marie, it took her over 30 years to say something publicly good about her dad and has shown very little interest so who knows, thats just the way it is ! Merry xmas to you all.